Is crypto real money?

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asked Sep 15 in Other-Finance by RoseannDillon (8,390 points)

2 Answers

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answered Sep 15 by IsiahHenderson (12,320 points)

Yes, crypto is real money and can be used on different platforms to make transactions, just like any other currency. People use cryptocurrencies as assets and for online transactions. To purchase coins of a particular type of cryptocurrency, you must barter real money. You can deposit the cryptocurrency you possess into the exchange and withdraw it after the exchange has accepted your cryptocurrency. Your bank account will receive payment for the withdrawal.

It might be a wise choice if you're willing to acknowledge that investing in cryptocurrency is a gamble with a real possibility of losing all of your money. These currencies are very secure, though. Even though most cryptocurrency systems are decentralised, transactions on them are very safe as long as consumers stay safe. Your information is kept private by the innate blockchain technology, which is highly secured and does not share with outside financial systems.

However, today's cryptocurrencies are very expensive and come with high transaction costs. Additionally, despite being quick, it takes a few minutes to validate the payment, which can delay the transaction. Because of the market risk, although the cryptocurrency is real money, it is still not widely used. Visit here to know more - classicalfinance.com

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answered Sep 22 by Vindictasss (380 points)

That's a pretty ambiguous question you asked. To put it bluntly, cryptocurrency is real money, just in a slightly different form. Cryptocurrency is a rather risky form of income, because when you trade it, you can never know where the price will eventually go, you can only guess. I have been using cryptocurrency for about 3 years now. I actively trade and even just pay with it in stores. I recently bought a new car thanks to the fact that I connected ethereum node api and was able to do a full transaction using ethereum and ended up paying for the whole car. Cryptocurrency is the future! Mark my words.

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